Factors Driving the Low Scores

[sharathdotc]

Hi CardBhai

I have a good credit history (the same doesn't reflect on CIBIL though)
Here are few details :
1. Using a credit card with  every month usage 20% of the credit limit  , I never delayed the payment even by one single day in the last 10 years
2. Closed all other credit cards 5 years back
3. One credit card (12 years old) is yet to be closed , not actively using and it is disabled with outstanding of Rs -180 (negative)
4. Have 1 House Loan from 2008 which will be closed in next few months
5. Have 1 House Loan from 2008 whose closure date is for more 12 years
6. Had few Personal Loans (the payment got delayed multiple times) which I closed them ALL in 2009
7. Had a Bike Loan in 2005 which is closed in 2007
8. Had a Car Loan in 2006 which is closed in 2009
9. Have a Car Loan which is pending closure in Feb 2017
10. No Cheque bounces on any of my bank accounts
11. Few Appliance loans from Bajaj Finance which were closed in time without any penalties.
12. Have been filing my taxes from last 13 years

On top of the above I observed a written-off status on SBI card (from 2005) which I didn't even knew about and I learnt about this remark in 2014 when I pulled my score report . For the benefit of my credit score , I paid all the dues in April 2016.
I pulled a new CIBIL score report (in July 2016, expecting to see a good score as the issues were resolved)  and observed my score is 645 and to my surprise  there is a loan from HSBC which has written-off status . This loan was showing ZERO outstadning till 2014 when I pulled my CIBIL score.

My Questions that needs your expert solution :
1. Is the ONE "written-off" status driving my CIBIL score to be 645 while every thing else is maintained so well.
2. I am good to discuss with bank and close that to "zero" . Will that bring back my credit score to 800 ?
3. One of my House Loan will be closed in 3-4 months , Will that add to my score ?
4. Fixing the remarks in CIBIL report (paying off written offf amount to bank) will suffice to increase the score or Do I need to take fresh loans and pay them back to boost the score up ?
5. What else can I do to improve my score

Thanks
Sharath

[cardbhai]

1. Is the ONE "written-off" status driving my CIBIL score to be 645 while every thing else is maintained so well.
Yes this is one of the contributing factors. Other are because of Non Timely Payment of Unsecured Loans [Credit Cards / Personal Loans]

2. I am good to discuss with bank and close that to "zero" . Will that bring back my credit score to 800 ?
It will help you improve gradually, not sure you will get it immediately.

3. One of my House Loan will be closed in 3-4 months , Will that add to my score ?
Housing Loan always adds to score if timely paymenst are made

4. Fixing the remarks in CIBIL report (paying off written offf amount to bank) will suffice to increase the score or Do I need to take fresh loans and pay them back to boost the score up ?

No you have had more than enough loans, Don't behave Credit Hungry, this adds to Negative Scores.

5. What else can I do to improve my score
Timely Payments and Non Credit Hungry Behavior adds to your score.

If you want more money, Top Up on your existing Home Loan as it is a secured loan and TIMELY Payments will help